A company’s competitive strategy deals exclusively with the specifics of management’s game plan for competing successfully - its specific efforts to please customers, strengthen its market position, counter the maneuvers of rivals, respond to shifting market conditions, and achieve a particular kind of competitive advantage, (Thompson, et al., 2014). In order to do this, companies have over the years adopted various approaches and techniques. Such techniques fall into three main categories of competitive strategies according to (Tanwar, 2013) namely, low cost leadership strategies which strives to be the overall low-cost producer in the industry, differentiation strategies which seek to differentiate one’s product offering from rivals’ products and focus or niche strategies that focus on a narrow portion of the market rather than the whole market.
We will focus on the differentiation strategy and how Pick ‘n Pay has …show more content…
The Pick ‘n Pay’s mission statement is aligned with this view, see Pick ‘n Pay mission below:
We serve. With our hearts we create a great place to be. With our minds we create an Excellent place to shop (Pick 'n Pay, 2016).
The above is supported by the following values; (1) We are passionate about our customers and will (2) fight for their rights; (3) we care for, and respect each other; (4) we foster personal growth and opportunity; (5) we nurture leadership and the vision, and reward Innovation; (6) we live by honesty and integrity; (7) we support and participate in our communities; (8) we take individual responsibility; (9) we are all accountable. Underlying this strategic direction is the three guiding principles followed by Pick ‘n Pay of; (1) consumer sovereignty, (2) doing good is good business and (3) maximising business efficiency (Pick n Pay,